Latest io.net News

In a significant move to bolster transparency and reliability in decentralized GPU-powered applications, io.net, a decentralized physical infrastructure network (DePIN), has announced a partnership with NovaNet, a decentralized incentive network focused on privacy preservation through zero-knowledge proofs. This collaboration aims to introduce a groundbreaking zero knowledge GPU identification technology, referred to as zkGPU-ID. By implementing this innovative system, io.net will ensure that its GPU resources consistently deliver the promised performance levels, thereby enhancing user confidence in the quality and authenticity of decentralized compute assets. The zkGPU-ID system employs advanced cryptographic techniques to verify that the GPUs on io.net meet or exceed their advertised capabilities. Utilizing NovaNet's zero-knowledge proof technology, io.net can validate GPU specifications without disclosing sensitive information, thereby reinforcing both privacy and robust verification. This solution empowers users to not only confirm the performance of GPUs but also their authenticity, adding a crucial layer of security to decentralized computing networks. According to Tausif Ahmed, io.net’s VP of Business Development, this partnership will optimize coordination and verification across a vast network of distributed GPU suppliers, ensuring that customers can trust the GPUs they rent from io.net. To achieve its objectives, the zkGPU-ID utilizes a zero knowledge virtual machine (zkVM) to assess GPU specifications and generate cryptographic proofs that validate various performance levels. This process produces tamper-proof evidence, and any attempts to manipulate the details will result in invalid proofs, thereby securing the network's integrity. Wyatt Benno from NovaNet emphasized that their zkVM provides a secure and scalable method for GPU verification, ensuring reliable performance guarantees. The collaboration between io.net and NovaNet is poised to redefine standards for transparency and reliability in decentralized compute infrastructure, making zkGPU-ID an essential tool for users reliant on GPU resources.

Asa, the head of io.net for the Asia-Pacific region, has confirmed attendance at the upcoming "DeInsight 2024" annual summit, scheduled for November 11 in Bangkok during Devcon. io.net is a decentralized computing network designed to support the development, execution, and scaling of machine learning applications on the Solana blockchain. The platform boasts the world's largest GPU cluster, aggregating 1 million GPUs from underutilized resources such as independent data centers, crypto miners, and projects like Filecoin and Render. This innovative approach addresses the need for vast computing power by creating a decentralized physical infrastructure network (DePIN), making it accessible, customizable, cost-effective, and easy to implement for engineers. The "DeInsight 2024" annual summit will be held at Hotel Nikko Bangkok and is co-hosted by ChainCatcher and RootData, with Soso Value as a co-organizer. The event aims to gather over 1,000 industry elites from the Web3 field to exchange insights and discuss the latest trends and developments in the blockchain space. A highlight of the summit will be the unveiling of the RootData List 2024, which ranks influential individuals and institutions in the industry based on objective data analysis. This annual ranking is expected to provide valuable insights into the key players shaping the future of blockchain technology. ChainCatcher emphasizes the importance of viewing blockchain developments rationally and encourages attendees to enhance their risk awareness regarding virtual token issuances and speculations. It is crucial for participants to understand that all content provided on the platform is market information or opinions from related parties and should not be interpreted as investment advice. The organization also encourages readers to report any sensitive information they may encounter, ensuring a responsible and informed community engagement.

In a significant development within the blockchain and AI sectors, io.net, a pioneering decentralized physical infrastructure network (DePIN) GPU platform, has announced a strategic partnership with ParallelAI. This collaboration aims to enhance the capabilities of both platforms by integrating io.net's tools into ParallelAI's infrastructure, which specializes in parallel processing optimization for AI applications. The partnership is expected to bolster GPU computational facilities on IO Cloud, particularly through the deployment of A100 GPUs, allowing AI developers to efficiently conduct tasks such as large language model (LLM) training and distributed deep learning. The partnership will not only focus on expanding computational resources but also on joint research and development efforts. By leveraging their combined expertise, io.net and ParallelAI aim to push the boundaries of GPU cloud computing, setting new standards for performance and efficiency. This collaboration follows io.net's previous partnerships, including a notable alliance with FLock to develop a Proof-of-AI (PoAI) consensus mechanism, further solidifying its position in the AI and DePIN landscape. ParallelAI's innovative approach allows developers to write high-level code while the platform manages parallel computing across multiple GPUs and CPUs. This can lead to a remarkable reduction in computational time—up to 20 times faster—and significant cost savings. By utilizing decentralized GPU clusters on demand through IO Cloud, ParallelAI can scale its operations seamlessly, ensuring clients have reliable access to the computational power needed for intensive AI workloads, with potential savings of up to 90% compared to traditional cloud services.

On October 17, 2024, HashKey Global will host an Ask Me Anything (AMA) session with Ionet, focusing on the innovative ways Io.net plans to leverage Decentralized Physical Infrastructure Networks (DePIN) to enhance artificial intelligence (AI) capabilities. This event is expected to provide valuable insights into the strategic direction of Io.net and how it aims to scale its AI initiatives. Given the growing interest in AI and blockchain integration, the AMA could serve as a pivotal moment for investors and stakeholders in the IO token ecosystem. The discussion is anticipated to shed light on the potential impacts of successful AI integration on the IO token's market performance. As the demand for AI-driven solutions continues to rise, the ability of Io.net to effectively implement these technologies could significantly boost investor confidence. This, in turn, may lead to an increase in the IO token's price, making it a more attractive option for both current and prospective investors. HashKey Global's commitment to fostering dialogue around blockchain and AI is evident in this AMA. By engaging with the community and providing a platform for discussion, they aim to clarify the future of Io.net and its role in the evolving landscape of decentralized technologies. Stakeholders are encouraged to stay informed about the developments from this session, as the insights shared could have lasting implications for the IO token and its market trajectory.

Coinbase has announced that it will be adding support for the artificial intelligence-focused altcoin, io.net (IO), on the Solana (SOL) network. This addition marks a significant step for the decentralized physical infrastructure network (DePIN), which aims to leverage idle graphics processing units (GPUs) for machine learning (ML) and AI projects. According to Coinbase, trading for IO will commence on or after 9 a.m. Pacific Time on October 9th, 2024, contingent upon meeting liquidity conditions. The trading will be initiated in phases, and it is important to note that support for IO may be limited in certain jurisdictions. At the time of writing, IO is trading at $1.77, reflecting a decline of over 3% in the past 24 hours. With a market capitalization of $168 million, io.net ranks as the 295th-largest cryptocurrency project. The project aims to democratize access to computing power by aggregating over one million GPUs from independent data centers, crypto miners, and other crypto projects like Filecoin and Render. This initiative is particularly timely given the increasing demand for GPU compute resources driven by the rapid growth of AI and ML workloads. The io.net project emphasizes its mission to make computing more scalable, accessible, and efficient. Current major cloud providers possess approximately 10-15 exaFLOPS of GPU compute capacity. However, the anticipated demand for GPU compute in the cloud could surge to between 20-25 exaFLOPS, reflecting the escalating requirements for AI/ML model training and inferencing. As the cryptocurrency market continues to evolve, the integration of AI-focused projects like io.net could play a pivotal role in shaping the future of decentralized computing.

As AI evolves and the need for more computational power increases, the demands on digital infrastructure have never been greater. DePIN, or decentralized physical infrastructure networks, is a groundbreaking approach poised to revolutionize business operations. Traditional centralized models struggle to keep up with growing demands, while DePIN leverages distributed networks for flexibility, scalability, and resilience. Tory Green, CEO of Io.net, highlights the limitations of traditional systems and the benefits of DePIN in terms of scalability, cost efficiency, and resilience. Advantages of DePIN One of DePIN's key advantages is its unparalleled scalability by utilizing underutilized global resources. IO.net aggregates GPUs worldwide, offering nearly unlimited compute capacity. Cost efficiency is another highlight, as DePIN significantly reduces infrastructure costs by leveraging idle resources, making high-performance computing accessible to startups. In terms of resilience, DePIN outperforms traditional models by eliminating single points of failure. With decentralized nodes distributed globally, tasks like AI model training can be performed with lower latency, improving efficiency and reliability. Benefits for Users Users working with IO.net's decentralized network benefit from affordable, scalable compute power, particularly advantageous for smaller companies and startups. Compared to traditional cloud providers, IO.net offers substantial cost savings, unlimited compute capacity, and enhanced reliability. Users can enjoy more compute power for less cost, with added flexibility, allowing them to focus on their core business operations.

There is a growing interest in Solana DePIN projects, with many seeing it as the next big thing in the crypto world. These projects enable the tokenization of tangible assets such as cellular networks, cloud storage, and computer processing power. The DePIN market has experienced significant growth, currently valued at $20 billion, marking a 400% increase in the past year. Surpassing 300% growth, DePIN has become one of the most profitable sectors in the crypto industry, second only to real-world assets (RWA). The value of DePIN on Solana has exceeded $4 billion, attracting both individual users and companies as AI and machine learning gain popularity. The Appeal of Solana for DePIN Projects Solana stands out for DePIN projects due to its speed, cost-effectiveness, and robust infrastructure. Its ability to process transactions quickly and at lower costs compared to other blockchains makes it an attractive choice for DePIN initiatives. The ease of system installation, high speed, and expanding user base further contribute to Solana's popularity among DePIN projects. Let's delve into some notable DePIN projects on Solana: 1. Render Network: Render is a decentralized GPU rendering network that migrated to Solana for its speed and cost efficiency. Introducing features like the Render Network Cinema 4D Wizard, which streamlines designers' workflows by supporting native C4D files, Render is also part of Grayscale's Decentralized AI Fund, highlighting its significance in AI. 2. Get Grass: This decentralized network leverages unused Internet computing power for web scraping, converting data into AI datasets. With over 2 million users globally, Get Grass launched the Desktop Node and initiated an airdrop, distributing 10% of its total token supply. 3. Kuzco: Focused on scalable and cost-effective machine learning, Kuzco operates a decentralized GPU cluster on Solana for LLM inference. Since its launch, Kuzco has experienced remarkable growth, expanding its online GPUs to 11.3K and significantly increasing daily points completed. 4. Ionet: Partnering with Chainbase, Ionet enhances its omnichannel data network for AI modeling advancements, aiming to elevate the capabilities of AI applications.

Crypto analysts are predicting a Decentralized Physical Infrastructure Network (DePin) supercycle, driven by Web3 and AI advancements, reminiscent of the early Internet era. DePin aims to decentralize applications currently dominated by tech giants like AWS and Google Cloud. The AI sector is particularly active, with growing demand for GPUs as AI models become more complex. Projects like io.net and Aethir are expected to secure significant market shares early on. DeFi analyst Cyril points to altcoins like Helium's MOBILE, OriginTrail's TRAC, and Nosana's NOS as having potential in the DePin ecosystem. Other noteworthy tokens include Theta Network's THETA for decentralized video streaming and The Graph's GRT for organizing blockchain data for efficient Web3 applications. Render (RNDR) and Filecoin (FIL) are also contributing to the DePin infrastructure, showcasing the growing integration of blockchain in real-world applications.

io.net, a Decentralized Physical Infrastructure Network (DePin) for computing networks, has partnered with OpSec, a privacy-focused cloud solution. This collaboration will integrate io.net's decentralized GPU resources into OpSec's cloud infrastructure, enhancing cloud operations for developers and enterprises. The partnership will develop a proof-of-concept to showcase the efficient deployment of OpSec's nodes across io.net's network, improving scalability and accessibility of cloud resources. This is expected to support a wide range of machine-learning models and cloud-based applications. Despite these developments, io.net's native currency, the IO token, has faced significant market volatility, declining by over 30% after reaching an all-time high. The token plays a crucial role in the io.net ecosystem, facilitating services, transactions, and fees, and incentivizing contributors for their GPU power.